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全球醋酸乙烯單體市場 - 2024-2031

Global Vinyl Acetate Monomer Market - 2024-2031

出版日期: 2024年02月13日 | 出版商:

DataM Intelligence | 英文 184 Pages | 商品交期: 約2個工作天內

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簡介目錄

概述

全球醋酸乙烯單體市場2023年達到102億美元，預計到2031年將達到157億美元，2024-2031年預測期間CAGR為4.5%。

由於主要最終用途行業需求不斷成長，全球黏合劑行業的擴張預計將在預測期內繼續成為全球醋酸乙烯單體市場的主要推動力。包裝是黏合劑和密封劑的主要使用者。汽車和建築等最終用戶行業對包裝的需求很高。

根據CEPI的數據，歐盟CEPI成員國的紙和紙板總產量為90,583千噸，比2020年的85,349千噸增加6.1%。2021年，包裝紙和紙板佔總產量53,545千噸。此外，CEPI成員國2021年的紙和紙板總消費量為75,219千噸，高於2020年的71,108千噸，成長5.8%。

到2023年，北美預計將成為成長第二快的地區，約佔全球醋酸乙烯單體市場的25%。美國包裝產業的良好成果，加上該國頁岩氣的繁榮，預計將繼續成為區域市場成長的關鍵驅動力。

動力學

太陽能產業需求不斷成長

大多數太陽能電池採用乙烯-醋酸乙烯酯來封裝光伏組件。這是因為它具有高透光率和柔韌性、良好的熔體流動性、低加工溫度和黏合性能等優點。太陽能電池的使用在世界各地迅速成長。過去十年，隨著政府資助的增加，全球新安裝的太陽能光電池的產能不斷擴大。

太陽能光電發電裝置規模穩定擴大。 SolarPower Europe估計，到2021年，全球累積太陽能光電發電容量將達到940吉瓦。太陽能市場的擴張標誌著分散式和永續能源解決方案的趨勢。此外，預計未來三年太陽能光電裝置容量將超過2.3太瓦，較2021年增加超過1.4太瓦。

對黏合劑和塗料的需求不斷成長

醋酸乙烯酯因其優異的黏合、纖維形成、光學和電學性能而成為黏合劑製造中最重要的單體之一。它是用於製造工業和消費品的重要化學建築成分。 VAM 是用於生產消費品和工業應用的聚合物和共聚物的前驅物。

由於基礎設施支出增加，特別是在亞太和拉丁美洲的新興經濟體，對油漆和塗料的需求不斷成長，可能會推動預測期內全球醋酸乙烯單體市場的成長。由於其對環境的影響較小，醋酸乙烯酯乙烯共聚物是建築塗料的理想選擇。

原物料價格波動及監管嚴格

頁岩氣探勘和生產活動的增加預計將維持 VAM 生產關鍵原料的穩定供應。原油是乙烯生產的主要原料，然後用於生產 VAM。從頁岩氣中提取的天然氣中乙烷的含量高於用於 VAM 合成的原油。

VAM 的製造依賴於乙酸，乙酸是從甲醇和乙醛以及從原油或天然氣中提取的乙烯中獲得的。這些原料的價格可能會大幅波動，影響 VAM 的製造成本、利潤率和市場穩定性。為應對日益嚴重的環境問題而製定的嚴格法規以及關鍵原料價格的波動預計將繼續成為行業參與者的重大障礙。

The global adhesives industry's expansion due to rising demand from major end-use industries is projected to continue to be a major driving force in the global vinyl acetate monomer market during the forecast period. Packaging is a major user of adhesives and sealants. Packaging is in high demand from end-user sectors such as automotive and construction.

According to CEPI, total paper and board production in the CEPI member countries of the European Union was 90,583 kilotons, representing a 6.1% increase from 85,349 kilotons in 2020. In 2021, packaging paper and board accounted for 53,545 kiloTons of total production. Furthermore, CEPI member nations' overall consumption of paper and board in 2021 was 75,219 kilotons, up from 71,108 kilotons in 2020, representing a 5.8% increase.

In 2023, North America is expected to be the second-fastest growing region, holding about 25% of the global vinyl acetate monomer market. A promising outcome for the packaging industry in U.S., combined with the country's shale gas boom, is projected to continue to be a key driving force for regional market growth.

Dynamics

Growing Demand from Solar Industry

The majority of solar cells employ ethylene-vinyl acetate to enclose photovoltaic modules. It is due to its advantages, which include high light transmittance and flexibility, great melt fluidity, low processing temperature and adhesive properties. The use of solar cells is growing rapidly over the world. Over the last decade, as government funding has increased, the capacity of newly installed solar photovoltaic cells has expanded globally.

Solar photovoltaics' installed capacity is steadily expanding. SolarPower Europe estimates that global cumulative solar PV capacity will reach 940 GW by 2021. The solar market's expansion signals a trend towards distributed and sustainable energy solutions. Furthermore, solar PV capacity is predicted to exceed 2.3 TW during the next three years, an increase of more than 1.4 TW from 2021.

Growing Demand from Adhesives and Coatings

Vinyl acetate is one of the most essential monomers used in adhesive manufacture due to its superior adhesive, fiber-forming, optical and electrical capabilities. It is an important chemical building ingredient used to make industrial and consumer goods. VAM is a precursor utilized in the production of polymers and copolymers for both consumer and industrial applications.

Growing demand for paints and coatings as a result of increased infrastructure spending, particularly in emerging economies in Asia-Pacific and Latin America, is likely to boost the global vinyl acetate monomer market growth during the forecast period. Vinyl acetate ethylene copolymers are ideal for architectural coatings due to their low environmental impact.

Volatility in Raw Material Price and Stringent Regulations

Increasing shale gas exploration and production activities are expected to maintain a steady supply of critical raw materials for VAM production. Crude oil is a primary feedstock for ethylene production, which is then used to produce VAM. Natural gas extracted from shale gas contains a higher percentage of ethane than crude oil for VAM synthesis.

VAM manufacturing is dependent on acetic acid, which is obtained from methanol and acetaldehyde and ethylene, which is derived from crude oil or natural gas. Prices for these raw materials can fluctuate dramatically, affecting VAM manufacturing costs, profit margins and market stability. Stringent regulations in response to growing environmental concerns, as well as variable prices for key raw materials, are expected to continue to be significant obstacles for industry participants.

Segment Analysis

The global vinyl acetate monomer market is segmented based on application, end-user and region.

Rising Demand for Adhesives and Coatings Drives the Segment Growth

Polyvinyl Acetate production is expected to be the fastest growing segment with 1/3rd of the market during the forecast period 2024-2031. PVA is the largest VAM derivative and is widely used in adhesive applications due to its excellent adhesion qualities to a variety of substrates such as wood, paper, metals and plastic films.

PVA is also used extensively in paints and coatings. PVOH is the second-largest VAM consumer made from PVA. PVOH is utilized in a variety of applications including coatings, adhesives and water-soluble packaging. PVAc, developed from PVA, is used to make magnetic wire insulation, safety glass interlayers, wash primers and coatings.

Geographical Penetration

Rising Production of New Energy Vehicles in Asia-Pacific

Asia-Pacific is the dominant region in the global vinyl acetate monomer market covering about 30% of the market. The region is expected to grow rapidly as countries such as China increase their investment in construction and the automobile industry. China is the world's largest vehicle producer. In accordance to the China Association of Automobile Manufacturing, the country's output of new energy passenger vehicles increased by 97.8% year on year in December 2022.

Furthermore, the country's new energy commercial vehicle production increased by 81% year on year in December 2022. Thus, the rising automobile business is likely to boost demand for vinyl acetate in the region. Vinyl acetate is commonly used to make paints, coatings, adhesives and packaging materials. With China being a prominent player in these industries, the demand for vinyl acetate is likely to increase during the forecast period.

Competitive Landscape

The major global players in the market include Celanese Corporation, LyondellBasell Industries, The Dow Chemical Company, DuPont, Kuraray, Ineos, Chang Chun Group, Dairen Chemical Corp, Sinopec and Wacker Chemie.

COVID-19 Impact

The pandemic disrupted several industries, including construction, automotive, packaging and textiles, all of which rely heavily on VAM and its derivatives. The pandemic affected global supply chains, limiting raw material availability, transportation and logistics. Lockdown measures, supply chain interruptions and economic uncertainty caused swings in demand for VAM-based products such adhesives, coatings and polymers.

Changing consumer behavior during the pandemic, like increased demand for e-commerce, home improvement projects and healthcare supplies, had an impact on VAM-based product demand. For example, the spike in online shopping raised the demand for packaging materials, resulting in increasing demand for VAM-based adhesives and coatings used in packaging applications.

Russia-Ukraine War Impact

Geopolitical tensions and war can cause market uncertainty, causing buyers and investors to hesitate. Companies may postpone investment decisions or seek alternate supply sources to reduce geopolitical risks, which could have an influence on global VAM demand. Any production or transportation disruptions caused by a dispute might result to supply shortages and price volatility in the global VAM market.

Furthermore, Russia is a large exporter of natural gas, a critical feedstock for VAM manufacturing. Any disruptions in Russia's gas supply could have a significant impact on regional VAM output. The conflict causes heightened volatility in energy markets, particularly natural gas and crude oil prices. Natural gas is a significant feedstock for VAM production, so any volatility in energy prices could affect production costs and profitability for VAM companies globally.

By Application

Polyvinyl Acetate (PVA) Production
Ethylene Vinyl Acetate (EVA) Copolymer Production
Vinyl Acetate-Ethylene (VAE) Copolymer Production

By End-User

Construction
Packaging
Automotive
Textiles
Electronics
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
South America
- Brazil
- Argentina
- Rest of South America
Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
Middle East and Africa

Key Developments

In February 2023, Celanese Corporation declared the completion of an ultra-low capital program to repurpose old manufacturing and infrastructure assets to increase ethylene vinyl acetate capacity at its Edmonton, Alberta, facility. The development will greatly increase Acetyl Chain's downstream vinyl offering.
In December 2022, Showa Denko K.K. has announced that it would license its technology for making vinyl acetate monomer to Asian Paints Limited as part of a formal cooperation agreement between SDK and KBR, a global engineering and technology solutions firm headquartered in U.S. Furthermore, SDK will provide catalysts for Asian Paints' VAM manufacture.
In November 2021, Celanese Corporation has partnered with Mitsubishi Chemical Advanced Materials. The relationship enabled both organizations to collaborate together to convert waste streams into saleable and end-product formulations, providing clients with more sustainable options to minimize carbon emissions.

Why Purchase the Report?

To visualize the global vinyl acetate monomer market segmentation based on application, end-user and region, as well as understand key commercial assets and players.
Identify commercial opportunities by analyzing trends and co-development.
Excel data sheet with numerous data points of vinyl acetate monomer market-level with all segments.
PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
Product mapping available as excel consisting of key products of all the major players.

The global vinyl acetate monomer market report would provide approximately 54 tables, 45 figures and 184 pages.

Target Audience 2024

Manufacturers/ Buyers
Industry Investors/Investment Bankers
Research Professionals
Emerging Companies

1. Methodology and Scope

1.1. Research Methodology
1.2. Research Objective and Scope of the Report

2. Definition and Overview

3. Executive Summary

3.1. Snippet by Application
3.2. Snippet by End-User
3.3. Snippet by Region

4. Dynamics

4.1. Impacting Factors
- 4.1.1. Drivers
  - 4.1.1.1. Growing Demand from Solar Industry
  - 4.1.1.2. Growing Demand from Adhesives and Coatings
- 4.1.2. Restraints
  - 4.1.2.1. Volatility in Raw Material Price and Stringent Regulations
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis

5. Industry Analysis

5.1. Porter's Five Force Analysis
5.2. Supply Chain Analysis
5.3. Pricing Analysis
5.4. Regulatory Analysis
5.5. Russia-Ukraine War Impact Analysis
5.6. DMI Opinion

6. COVID-19 Analysis

6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
6.2. Pricing Dynamics Amid COVID-19
6.3. Demand-Supply Spectrum
6.4. Consumer Electronics Initiatives Related to the Market During Pandemic
6.5. Manufacturers Strategic Initiatives
6.6. Conclusion

7. By Application

7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 7.1.2. Market Attractiveness Index, By Application
7.2. Polyvinyl Acetate (PVA) Production*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
7.3. Ethylene Vinyl Acetate (EVA) Copolymer Production
7.4. Vinyl Acetate-Ethylene (VAE) Copolymer Production

8. By End-User

8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 8.1.2. Market Attractiveness Index, By End-User
8.2. Construction*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
8.3. Packaging
8.4. Automotive
8.5. Textiles
8.6. Electronics
8.7. Others

9. By Region

9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 9.1.2. Market Attractiveness Index, By Region
9.2. North America
- 9.2.1. Introduction
- 9.2.2. Key Region-Specific Dynamics
- 9.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.2.5.1. U.S.
  - 9.2.5.2. Canada
  - 9.2.5.3. Mexico
9.3. Europe
- 9.3.1. Introduction
- 9.3.2. Key Region-Specific Dynamics
- 9.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.3.5.1. Germany
  - 9.3.5.2. UK
  - 9.3.5.3. France
  - 9.3.5.4. Italy
  - 9.3.5.5. Russia
  - 9.3.5.6. Rest of Europe
9.4. South America
- 9.4.1. Introduction
- 9.4.2. Key Region-Specific Dynamics
- 9.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.4.5.1. Brazil
  - 9.4.5.2. Argentina
  - 9.4.5.3. Rest of South America
9.5. Asia-Pacific
- 9.5.1. Introduction
- 9.5.2. Key Region-Specific Dynamics
- 9.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
  - 9.5.5.1. China
  - 9.5.5.2. India
  - 9.5.5.3. Japan
  - 9.5.5.4. Australia
  - 9.5.5.5. Rest of Asia-Pacific
9.6. Middle East and Africa
- 9.6.1. Introduction
- 9.6.2. Key Region-Specific Dynamics
- 9.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User

10. Competitive Landscape

10.1. Competitive Scenario
10.2. Market Positioning/Share Analysis
10.3. Mergers and Acquisitions Analysis

11. Company Profiles

11.1. Celanese Corporation*
- 11.1.1. Company Overview
- 11.1.2. Product Portfolio and Description
- 11.1.3. Financial Overview
- 11.1.4. Key Developments
11.2. LyondellBasell Industries
11.3. The Dow Chemical Company
11.4. DuPont
11.5. Kuraray
11.6. Ineos
11.7. Chang Chun Group
11.8. Dairen Chemical Corp
11.9. Sinopec
11.10. Wacker Chemie

LIST NOT EXHAUSTIVE